Northern Trust Corp Has $302.88 Million Stock Position in Martin Marietta Materials, Inc. $MLM

Northern Trust Corp raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% in the 1st quarter, HoldingsChannel reports. The fund owned 633,472 shares of the construction company’s stock after buying an additional 15,678 shares during the quarter. Northern Trust Corp’s holdings in Martin Marietta Materials were worth $302,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MLM. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth $30,000. Zions Bancorporation National Association UT bought a new position in Martin Marietta Materials in the 1st quarter valued at $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $40,000. Finally, Valley National Advisers Inc. raised its position in shares of Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock worth $45,000 after acquiring an additional 64 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by company insiders.

Martin Marietta Materials Price Performance

Shares of MLM opened at $599.3870 on Thursday. The stock has a market cap of $36.15 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 5.54 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The stock’s 50-day moving average price is $570.92 and its two-hundred day moving average price is $532.04. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $4.76 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is 17.53%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their price target for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Raymond James Financial lifted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $622.63.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.